Wednesday, Jul 08, 2009
Stock markets rolling over
Investment Postcards: Stock markets rolling over
Uncertainty over the global economic outlook yesterday took its toll on stock markets around the world as risk aversion favored safe-haven assets such as government bonds, the US dollar and Japanese yen.
The S&P 500 Index yesterday breached the key 200-day line (for the third time in 26 trading days), joining the Dow Jones Industrial Average and the Dow Jones Transportation Index in bearish mode.
The technicals undoubtedly look ugly, and investors will now focus on the second-quarter earnings reports as a test of whether stock prices have run away from fundamental reality. As Randall Forsyth said in yesterday's Barron's: "'Less bad no longer is good enough' has become the new market mantra."
The link is: http://www.investmentpostcards.com/2009/07/08/stock-markets-rolling-over/
4 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. bluebeach said...
Why is Basil Fawlty now selling us Investment advice? on the HPC site..... Flowery Tw@ts
2. bellwether said...
Thanks Prieur quality as always. Also apologies for bluebeach. He is still struggling to make the link between the economy and house prices.
3. bluebeach said...
BW... to me and many, there seems no link.... the economy is on its ar$e and house prices in my area are still booming.. just the same as 2007 - 2008. Those who say we are back to 2001-2003 levels are deluded. Please make no appologies for me, I make my own choices ... it has done me very nicely so far thanks.
4. techieman said...
"The technicals undoubtedly look ugly" so i need a shave and brush up but there's no need for that is there!